Cote's Ex-Owner Wants Slice Of Pizza Hut

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Source:   —  April 01, 2016, at 4:50 PM

CBPE is among a quartet of bidders trying to obtain its hands on the pizza chain's revived UK operation, Sky News understands.

Cote's Ex-Owner Wants Slice Of Pizza Hut

The former owner of Cote, the French bistro chain, is among a pack of bidders trying to grab a slice of Pizza Hut's ‎UK operations.

Sky News understands that CBPE, a private equity firm, is one of four prospective buyers of Pizza Hut following a revival programme which has returned the chain to profitability.

‎The other bidders are said to comprise HIG Europe, another investment firm, while insiders declare that Electra Partners, the owner of TGI Friday's, didn't create it through to the latest circular of the Pizza Hut auction.

Pizza Hut'south UK franchise, which includes more than three hundred sites, has been owned by Rutland Partners, which focuses on turning around under-performing businesses, since two thousand-twelfth.

The restaurant operator'south global business is portion of Yum! Brands, the US-based company which also owns KFC.

Below Rutland'south ownership, the UK operation‎ made aggregate profits of £5m in 2012 and two thousand thirteen, with results for latest year yet to be published but expected to indicate further dividends from a refurbishment programme.

Jens Hofma, Pizza Hut UK, signalled the sale map latest year but warned that the National Living Wage - which comes into force this month - would "pose a challenge for the economic model of casual dining businesses"‎.

The auction comes amid a deal frenzy in the UK restaurant sector.

CBPE made a stellar return when it sold Cote to BC Partners - another buyout firm‎ - latest year, while Yo! Sushi, Gaucho and Prezzo have all changed hands recently.

PricewaterhouseCoopers is overseeing the Pizza Hut auction.

Rutland declined to comment.

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